Standard Chartered (OTCMKTS:SCBFF – Get Free Report) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday, Zacks reports.
SCBFF has been the subject of a number of other reports. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. UBS Group cut shares of Standard Chartered from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Standard Chartered has a consensus rating of “Moderate Buy”.
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Standard Chartered Stock Performance
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.59 billion. Standard Chartered had a return on equity of 10.84% and a net margin of 13.79%. On average, analysts anticipate that Standard Chartered will post 2.44 EPS for the current fiscal year.
Institutional Investors Weigh In On Standard Chartered
An institutional investor recently raised its stake in Standard Chartered stock. Madison Asset Management LLC grew its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF – Free Report) by 13.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,447 shares of the company’s stock after acquiring an additional 5,154 shares during the period. Madison Asset Management LLC’s holdings in Standard Chartered were worth $2,313,000 as of its most recent SEC filing.
About Standard Chartered
Standard Chartered PLC is an international banking group headquartered in London. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, Africa, the Middle East, the United Kingdom and the Americas.
Its principal activities include corporate, commercial and institutional banking, retail banking, private banking and wealth management. Standard Chartered offers lending, trade finance, transaction banking, foreign exchange, investment banking, capital markets, cash management and investment products, along with personal banking services such as deposits, mortgages, credit cards and other forms of consumer finance in selected markets.
Standard Chartered traces its history to the formation of Chartered Bank of India, Australia and China in 1853 and the Standard Bank of British South Africa in 1862.
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